Agromash

Agromash

 

a joint Bulgarian-Hungarian association for collaboration in technological and economic development, machine building, and machine marketing; it was created in December 1964. The association coordinates the technological development and output of machinery and units for mechanization of vegetable, fruit, and grape growing, on the basis of agricultural research being conducted in Bulgaria and Hungary. It promotes specialization and collaboration between the corresponding enterprises and research and planning-design institutions of the two countries. It assists in the conclusion of agreements for reciprocal deliveries of the products referred to and for deliveries to other countries. The activity of Agromash is based on cost-accounting principles. Its statutory capital is derived from payments by the two countries on an equal basis. Income received, after deduction of fixed amounts for Agromash funds, is distributed equally between the participating parties. The Agromash board is formed of representatives from both sides, on a parity basis. Board resolutions are considered adopted upon joint agreement of the two parties. The executive organ of Agromash is the bureau, consisting of the director, deputy directors, and various specialists and technical personnel. All expenditures are supported equally by the two parties. Agromash maintains headquarters in Budapest, Hungary, with representatives in Sofia, Bulgaria. It enjoys juridical rights and operates accordingly under the laws of those countries in which it is active.

Agromash represents a new form of economic collaboration between two socialist countries; it is an example of the continued improvement in the international socialist division of labor.

V. I. MOROZOV

References in periodicals archive ?
The plant is operated by Ssangyong's local partner, Agromash Holding.
Auto Business News-March 11, 2013--PSA Peugeot-Citroen signs contract with Agromash Holding(C)1994-2013 ENPublishing - http://www.
PSA Peugeot-Citroen, a France-based automaker, has signed a contract with Russia-based Agromash Holding.
President Hipolito Mejia said the Ministry of Agriculture will test 10 Ukraine-made Agromash tractors before placing a larger order, reports Hoy (June 17, 2002).
Agromash Sanoat Invest, subsidiary of Uzavtosanoat, has started production of mini-tractors by the license of Korea's LS Mtron, company's deputy director general Rustam Saidaliyev told reporters.
Agromash Sanoat Invest and LS Mtron signed the agreement on strategic cooperation in December 2013, which foresees production of 24,570 mini-tractors.
SM Group's past experience in Russia includes ownership of the Yenisey combine factory in Krasnoyarsk, the number two combine manufacturer in Russia, and a partnership interest in Agromash Agricultural Machinery.
In 2014, a new automobile factory of Kazakhstan s Agromash Holding will begin with the production of Nomad SUVs in the Kostanai region.
To produce Nomad brand SUVs, Agromash Holding secured a license from the South Korean company SsangYong.
AGCO Corporation, (NYSE: AG), a worldwide designer, manufacturer and distributor of agricultural equipment announced today the signing of a letter of intent between Fendt, a premium product line of AGCO Corporation and Agromash Holding, based in Moscow.
Agromash Holding, based in Moscow, is a leading privately owned manufacturer and distributor of agricultural equipment in Russia, and the only company in the country which offers a full line of agricultural equipment.
At the occasion of the annual France- Kazakhstan Joint Committee meeting held in Paris on 7 March 2013, PSA Peugeot CitroE1/2n and Agromash Holding signed an agreement for the assembly and distribution of Peugeot passenger cars and LCV in Kazakhstan.